I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
'Grace Adams Cook' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Investing your life savings in a rental property without certainty of returns can be risky. It's crucial to thoroughly evaluate the investment potential before diving in. I've learned that making wise investments is key to building wealth. It's not just about investing money; it's about investing smartly to secure a prosperous future. Here's to making informed decisions and achieving financial success!
Absolutely agree! Thoroughly evaluating investment potential is crucial. Wise investments are key to building wealth and securing a prosperous future. Making informed decisions is essential for financial success!
Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.
Impressive insights! For beginners like me, managing and staying updated can be overwhelming. Are you an experienced investor or do you have a strategic approach for staying informed?
Absolutely not, as I've closely tracked my portfolio's performance, witnessing a staggering $482k growth in just the last two quarters. This experience has taught me the secrets behind experienced traders' substantial gains in what might appear as unpredictable markets. Undoubtedly, it's been a bold and rewarding choice I made fairly recently.
That's quite remarkable! I'm genuinely interested in benefiting from the guidance of such experienced advisors, especially considering the current state of my struggling portfolio. May I know the name of the advisor who has been assisting you in navigating these financial challenges?
"Stacie Lynn Winson” serves as my advisor, bringing extensive qualifications and experience in the financial market. Her deep understanding of portfolio diversity positions her as an industry expert. I suggest delving into her credentials for further insight. With her considerable experience, she offers valuable guidance to anyone seeking to navigate the complexities of the financial market
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I remember watching my first real estate 101 with graham Stephen years ago talk about how to buy your first property. That catapulted me into being heavily involved in the credit card, real estate and finance community overall. I hope this video inspires the next guy how it did for me years ago.
@@Avengers-tf8duMostly gotten into stocks and credit cards for now, and became a real estate agent. Haven’t really hit the season of real estate investing side yet.
Amazing video! I’m 24 and want to get my first property. I think that calculator would be a great tool for me and others. A video like that would be awesome! Keep up the great work!
Great content as usual, I loved this as I am about to invest in uk property with 70k deposit (plus fees and more savings for furnishing and decorating) to buy my own place, but I am also treating it as my fourth investment, having two spare rooms for lodgers to cover this property mortgage and tax costs... and to build my equity whilst working my day job for my next investment.
Hello, I am in London and am considering investing in real estate as a way to get some passive income. A few years ago, my brother purchased a home in a county outside of London. Because he was unable to find tenants, the property was eventually repossessed. As a result of this experience, I'm concentrating on purchasing real estate in London, where it's quite challenging to obtain a mortgage because of the high cost of the properties. Would you kindly recommend an easy way, where one may try to sustain these cost on mortgage?
First, Jessica you need to have a salary of at least 25k before you will be considered for a mortgage, that you need for properties. If you want to achieve a 75 percent yield yearly, try looking out for an investing advisory or else you will be competing against professionals themselves.
Generating returns are usually phenomenal. What would have been really interesting would be a proper breakdown showing their costs , services, investors return..
That's an intentional way to live Debbie, that's the only way to become debt free. I've already paid off two previous mortgages. Now I'm working on my third and I cannot wait since it has to happen before retirement in four years and I'm already getting there the proficient way, Luckily for me my trader and coach Frost Hilda has been using every opportunity to ensure I benefit from each turn the market takes. Good luck staying debt free as much as possible in the future.
Absolutely Zachary, contract agreement splits are favorable, I’m also exceptionally well positioned as I’m privy, so that’s a good return deal for any investors creating revenue for more interest.
Hi John. I must say you are an inspiration because I started up investing in crypto and trading as a scared investor who doesn’t want to lose money, glad to say I’m very profitable now and just bought my first house through it.
Big props to you on your wins please how did you become successful, lately I find everything difficult how did you overcome fear of loosing facing same here
I understand how you feel,well is not luck is all about having good investment plans, watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey.
I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I’m very happy I’m profitable now.
Great stuff John! Thanks for sharing!! Totally agree with putting your eyes on the property and walking it. My current place, looked great with photos (of course it did) and all the numbers/amenities, etc. Then I visited the place for a walk through. Couple cracks in the drywall/plastering and a 2.5 in drop (just felt weird) in the floor from one side to the other of the house. $35000 later, everything is level, no I did not pay for that, seller did. Plus...if you're a newbie buyer...and you probably are watching this...make sure to ask your RE Agent questions. They know what/how to show things to people but because of their experience, they also probably know of what things to look for, especially if it's houses/apartments/condos that are similar in an area. "I sold 3 of these last year, all needed new sewer lines due to age/type, etc"....then you know you gotta add that to the inspection for sure! And YES, you DO NEED an INSPECTION! The cost will save you $$$$$$$.
Well Sir , I watched few videos of other who is trying to explain things but you are explaining things so clear and very simple , thank you for been great educator and I can not wait to buy my first rental
This information is priceless. Thank you for doing this, John! Would love to see more real estate investing videos. Also, could you do a video on how you screen your tenants?
Hey John. Great video! Would love both a follow-up and a copy of the calculator if possible. Also, are there any books/other resources you would recommend?
When I was younger and thinking about what I wanted to do with my life, Buying rental property was something that I have always been very interested in. I never had the money to act on it and go full force. Fast forward many years later. I now finally saved up enough money to buy my first rental property, but I have no idea of where to begin. Any help for anyone will greatly be appreciated. I want to make sure I do all the right steps. I have been seeing so many 101 guides on this topic, And this video made everything sound so simple. I Just need that extra push to make the 1st move on this journey and I want to make sure it will be the right one.
So first thing is saving money but you have that down already. Basically you’re set to start but always do your numbers and check how much you’re monthly mortgage would be and the monthly expenses such as property management, insurance, and so on. Now that you’ve done numbers, reach out to an agent who can help you ( they all know how) and start looking for properties. Get a home inspection ($300-$500) make sure everything works properly and seal the deal. First 2 weeks paint the house make it look more presentable and don’t go overboard because you might be the landlord but not the tenant so your specific desires won’t be necessary . List the home for rent and begin making money (ALWAYS COMMUNICATE WITH YOUR AGENT)
@@GViramontes i work in real estate so i do have a good chunk of knowledge on this specific topic. I am actually planning to buy a rental property in Vegas next year so i am also researching a bit more so i can have full knowledge before taking a big step. Hopefully by 23 i can have two investment properties, its just all about research
Hey John! Great video, really helpful information on getting a rental property. Super excited to see a video breakdown of how you setup your deal calculator!
Interested in your calculator. Great info on the video, looking to buy my first rental property which is a 4 bed, 2 bath. It’s nail biting but I know it’s a great starting point. If rental makes it positive, I’ll be ready to buy the 2nd.
Thank you for putting this content together. My wife and I are planning to do the exact same thing and you have opened our eyes to some elements that we hadn't considered and also have gotten us excited to buy our first property. We are also in MA and looking at properties in the South Coast area. Please send us your calculator as it will be super helpful. Thank you again and we'll keep you posted!
Thank you so much for teaching house hacking in such a simple way. I dream of investing in real estate and have even been analyzing houses on zillow and for family members for fun. Would you be able to share a video showing more details of this calculator and maybe share it for a while? Thanks again.
The dynamics of the rental market impact both landlords and tenants, with factors like demand, location, and property condition influencing rental prices and vacancy rates.
Great video. I really like your excel sheet calculator and the tip of using HUD. I want to buy a rental and make sure the property will be HUD certified.
Hi really enjoyed your presentation, however it was well over me to attempt to take any kind of notes for later reference. It would have benn nice to have this put on a PDF for viewers!
Hi John, I’m just starting to get into this industry and that calculator would really be helpful, if possible could you please do a thorough video on that calculator I would really appreciate it
Great Info!! Ive been looking into buying multi-family for my first purchase, but the prices around me seem a bit too high. I would love a more in-depth video on the calculator. Also, if living in a unit for some amount of time (say a year or 2), should that unit be included in the calculation of income since it will be rented out in the future? Or should it be left out of the calculation?
Hi John, awesome video. I'm planning on my first investment property and you made some good points. Can you please share how you did your calculations. Thank you.
Really amazing video, I just Graduated from Architecture School last year and trying to become an architect as developer. It shares a lot of the same principles as real estate investing, it would be great to see a more in-depth video using the calculator, I trying to create my own worksheet and currently looking for my first property to buy
FHA is good for your first two unit property. With 3.5% down but a three or four unit and putting 3.5% down will never pass the self-sufficiency test that FHA requires.Furthermore, you can only use the FHA loan once within 100 miles of each property also, requires that you live in one unit for at least 12 months.
Hey John! I’ve gotta say, this is wonderful information you’re giving out. I noticed on your annual income in the calculator it was $100,000. Is that a combined income with your girlfriend/spouse? I would love to get into real estate just hesitant and want learn more. Another note, the calculator you have would be sweet to dive into more! Thank you for all you’re doing man. Tons of people would keep this to themselves. Much respect to ya!
My biggest fear with owing a rental property is the maintenance expenses. I own a home now and shit breaks all the time its always at the wrong time and hits the wallet hard. i can’t imagine that with a rental property. i think that what will sink me.
Hi John, thanks for the video break down. I would definitely love to get into the weeds with this rental property calculator. I would like to really understand it. I would love to create one for myself. I also would love to hear what you have to say with the 2nd rental you buy. I am already a home owner. I would not qualify for an FHA loan for my first rental property. Thus, I have to go conventional loan (because I am not a veteran and don't qualify for VA loans). I spoke to my loan officer who I deal with and he informed me that I would need to put down 20% for rental property. This starts to get quite expensive and more risky. Any thoughts or strategies you could offer would be great!
Thank you for sharing this information it’s very helpful and I’m just starting to plan on getting into real estate investing! Used your other trips on credit cards and just did an amazing trip to south of France for a fraction of the cost 🙏🏼 (now I’m back to saving for that down payment)
Hi John. It is nice to watch the content to inspire a new scared first time investor. Could I receive the calculator? Also, you mentioned that we need to find a great agent and you mer one in the meetup. If we want to invest out of state, what’s the best way to meet a good agent where you don’t live?
Awesome video ! It stream lines a lot of the surface stuff to give a good process to follow. That calculator looks super helpful, do you have a link for the calculator ? and/ or video ? thanks for the guidance.
I could definitely use your calculator....please. I'm super excited to see video content about real estate investing from the Boston market. So much other content from all around the country which is not all relevant to our NorthEast market. Thanks.
Incredible video! I've been following you on IG for a while now and love your style and your knowledge. Thank you or what you do! I would love info on your calculator! In the midst of purchasing rental properties and want to be as advanced as I can be. Please let me know where I can find this!
John! Terrific job explaining and keeping me entertained throughout your video! Thank you. If you sell the sheet where you calculate expenses and income is there a link where I can purchase? Could you make a video explaining how you built your calculator sheet on excel or google sheets?
I'm 14,going to start dropshipping,get some experience and hopefully within the next 4-6 years I will make a decent amount of money which I will use to buy real estate so that I can retire early
Buy a rental property, then house hack. In addition to my tenants, I also host vehicle storage in my extra parking spaces. Great way to up the cash flow
Can I please get a copy of that calculator? This video was amazing! I am going to sell my house next year and was hoping to use that capital to start my real estate investing next year. I want 100% out of my 9-5 and get going with property investing. Thanks so much for this introduction. Are there any books you would recommend I can read for more?
Was up John hope all is well? Can you make a video of the numbers, formulas and spreadsheet and how to set up a spreadsheet with Google, numbers or excel thanks appreciate your content great work.
The section 8 idea to determine the market rental value is a good idea. I would never rent to section 8 ever again, twice they've wrecked my properties and were a hassle to deal with. I'll strongly pass on that suggestion. but everything else is pretty solid 101 advice.
![Buying your first rental property [Full Guide 2023]](/img/logo.svg){kind=logo}
